Thai trade office targets 20% rise in exports to the Mideast this year
Exports to the Middle East and South Asia could rise by 20% and 10% respectively this year, according to targets released by the Trade Policy and Strategy Office (TPSO).
TPSO, a unit of the Ministry of Commerce, said high growth is expected in both markets, as well as in the Association of Southeast Asian Nations (Asean), while Europe, the United States, and Japan are forecast to see slower growth than last year.
It is targeting a 20% rise in exports to the Middle East, followed by a 10% rise in exports to South Asia.
Exports to other Asean countries are expected to rise by 6.6%.
Exports to China, including Hong Kong, are forecast to rise by 2%, exports to North America by 4.5%, Europe by 4%, and Japan by 2.5%.
Exports to the United Kingdom and the Commonwealth of Independent States will rise by 1%, TPSO forecast.
TPSO director general Poonpong Naiyanapakorn said an analysis of export markets found the food and beverage segment had the greatest opportunity for growth.
TPSO expects exports of rice, processed foods, and chilled juices to rise this year.
Demand for personal-hygiene, medicinal, and cosmetic products will also rise, TPSO forecast.
Exports of electrical appliances and electronic devices are also expected to expand.
